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5 Reasons Why the Rich Buy Art – Too Stay Rich!

When rich bankers get together for dinner, they discuss art; when artists get together for dinner, they discuss money.” – Oscar Wilde.

For most of us, art has the universal ability to motivate, better our environment and life, and enable us to see reality differently from another’s point of view. Thus it is typical for those with money, and prestige, to spend millions on art since the Revolution, and even before that.

Moreover we find ourselves in shock and confusion by the astronomical amounts being paid by the rich at art auctions. Have your ever wondered why the rich continue to pay record breaking prices for fine art? Do the rich know something the rest of us don’t?

Here is a hint, if you are a billionaire spending a fortune on a piece of art. Most likely the reason has nothing to do with how it looks on the wall of your French Rivera villa.

This video is a supplement to our detailed blog post.

In this Vengerick Art video we will be answering the following questions:

Why do rich people buy art?
What's the reason behind rich people buying art?
Why do rich people buy abstract art?
Why do super-rich people invest in art?
Is art a good investment?
Do the rich avoid taxes by buying art?
How do the rich hide money through fine art?
Is art a way to launder money?
Can you buy and sell art anonymous?
Do the rich buy art with cash?